Redwood Services Announces Investment in Dean's Home Services
May 21 2024 - 9:45AM
Redwood Services (“Redwood”), a home services firm focused on
investing in leading residential HVAC, plumbing and electrical
services companies in growing U.S. markets, today announced it has
invested in Dean's Home Services (“Dean's").
Dean's was founded in 1996 and proudly serves the
Minneapolis-St. Paul region with HVAC, plumbing, electrical, sewer
and drain services. Today, Dean's has over 120 teammates and serves
more than 10,000 customers annually.
"Dean's has experienced substantial business growth in recent
years, a reflection of their prudent decision-making and
adaptability regardless of the business climate," stated Richard
Lewis, CEO of Redwood Services. "Stephanie and Jeremy are
exceptionally talented executives, who prioritize treating their
employees well – earning a reputation in their community for
attracting new hires through strong family connections and
word-of-mouth referrals. We are eager to support Dean’s with our
full suite of resources as they continue to grow."
Owners Jeremy Shepard and Stephanie Olson will retain a
significant minority ownership stake as part of the investment. The
Dean's team will continue to operate and manage the business under
the Dean's banner and name, while Redwood will offer operational,
strategic and financial support to enhance the company's
growth.
"We have known and have been coached directly by several members
of the Redwood team for years. And while we had confidence in those
individuals and a desire to work with them daily, we also saw
Redwood earn a reputation in the market over the last several years
as a premier platform to partner with in building a best-in-class
operation," said Jeremy Shepard, President of Dean's. "Now that
we’re officially part of the Redwood family, we look forward to
working with some of the brightest minds in the industry as we
continue on our journey."
Dean's is Redwood's fifteenth platform investment, following
investments in some of the highest performing residential HVAC and
plumbing companies across the United States.
About Redwood Services
Founded in 2020, Memphis-based Redwood Services invests in
people-powered partnerships with the highest performing residential
HVAC and plumbing companies across the United States. Partners
receive world-class resources, strategic investments and cross
market collaboration from Redwood. Redwood operates 15 brands
across the country as it continues to build out a national home
services platform.
For more information, visit RedwoodServices.com.
From left to right: Chance Dye, David Katz, Richard Lewis,
Jeremy Shepard, Stephanie Olson, Scott Brinkley, John Conway, Shaun
Hardick, Sandra Koblas
Media Contact
Madison Thomas
CSG for Redwood Services
redwoodservices@wearecsg.com
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/12d320ac-7425-4f09-a5d5-5e848cbc4ddd